Total job recruiting reported by the Labor Department this morning slowed last month with only 156,000 new jobs being created last month. This caused the unemployment rate to rise to 4.4% from the previous month’s 16-year low of 4.3%!
This contrasted with most economist predictions of 179,000 new jobs being created and a continuation of the 4.3% unemployment rate from the month before. For example, Paul Ashworth, chief U.S. economist at Capital Economics, in a note to clients, said, “August’s employment report was disappointing across the board…there is no reason to believe that the modest drop-off in employment growth is the start of a more serious downturn.”
Additionally, job recruiting from the previous two months was also revised lower. July’s payroll gain was revised down to 189,000 and June’s growth down to 210,000, a net decrease of 41,000.
IoT, AI, VR, IoT, Bitcoin, Robotics, Big Data Driving Recruiting
Contrast this with many technology industries that continue recruiting research and development (R&D), information technology (IT), engineering, scientific, technical and manufacturing talent. This increased recruiting is fueled by regular media stories of new innovation and technology in such fields as virtual reality (VR), artificial intelligence (AI), Big Data and robotics. None more so than in Internet of Things (IoT).
As proof of this, Motley Fool recently shared that IoT is still one of the biggest market revolutions on the map. Devices exchanging data with other computer systems are here to stay, and will only play a larger part in our future lives. Market experts see a $19 trillion economic opportunity unfolding over the next 10 years, and that estimate might actually error on the conservative side.
Additionally, a two major job and economic studies show that:
- The shortage of qualified IoT talent is creating security threats!
- The scarcity of key IoT candidates is putting many technology and innovation projects at risk of major delay!
Bitcoin is another cutting edge technology field that is driving strong demand for computer science and engineering talent. This is particularly true for those engineers and scientists with C#, .Net, SQL, MySQL, Oracle, OCR, AI, RPA tools, VR, and Python skills within an Agile IT environment.
Wall Street Agrees With Our Six Recruiting Divisions
Technology stocks continue to be in favor. This is driving an insatiable appetite among hiring managers for IT, R&D, technical, engineering, scientific and manufacturing recruiting in all cutting edge technology fields!
Though last month’s job report only showed sparse jobs contributions from other non-technology fields, Strategic Search Corporation recruiters have uncovered from hiring company surveys that staffing needs for engineers, scientists and other technical professionals have been exhibiting way more demand than supply for the past eight months!
